AFPI Appointed by OJK as the Official Association of P2P Lending Service Providers

The Financial Services Authority (OJK) has officially issued a letter appointing the Indonesian Joint Funding Fintech Association (AFPI) as the official body that accommodates service provider information technology-based money lending (p2p lending) in Indonesia.

With the issuance of a letter from the OJK and in accordance with the Financial Services Authority Regulation No. 77/POJK.01/2016 Chapter XIII Article 48, then all p2p loans in Indonesia must register as a member of the AFPI. So far, as of January 18, 2019, there were 88 registered service providers.

"We really appreciate the OJK who has listened to the aspirations of the organizers regarding the importance of the presence of associations to carry out supervisory and regulatory functions for members. This is very important to maintain the industry so that it can grow healthily and sustainably, as well as bring benefits to the Indonesian people who have not have access to conventional financial services," said AFPI Chairman Adrian Gunadi.

After this appointment, AFPI will become OJK's strategic partner in carrying out the regulatory and supervisory functions of the organizers who are its members and play a role in supporting various corporate consumer education and protection activities. fintech in Indonesia.

AFPI itself currently has several agendas and work programs that have been determined by its management, including an internal certification program for business processes related to services to customers. In addition, the association will also establish a data center p2p loans as an innovation that supports the needs of management and credit risk assessment.

The data center will later have a work system similar to the Financial Information Service System that previously existed at OJK.

"We have prepared several work programs, but our priority right now is to hold internal certification to maintain the minimum standard of service to customers and also to build a lending and borrowing fintech data center."

"This is a form of innovative real solution from the organizers for the many complaints from the public who feel trapped by loans from several fintech companies while preventing the practice of digging holes and closing holes by the community," explained AFPI Daily Chair Kuseryansyah.